Civic Intelligence

South Carolina State University Foundation Inc.

990 • Fiscal year 2018 • EIN 23-7113930

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 14, 2019

Organization ProfileWWW.SCSU.EDU/GIVETOSCSTATE/SCSTATEUNIV
PO Box 7187Orangeburg, SC 29117-0001

(803) 516-4722

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

30th percentile

0.04x

Higher debt load relative to assets than 30% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Liabilities / Revenue

47th percentile

0.15x

Higher debt load relative to revenue than 47% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Net Margin

65th percentile

9.0%

Higher net margin than 65% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Top Officer Pay

20th percentile

$0

Higher top officer pay than 20% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Asset Growth

40th percentile

-0.7%

Faster asset growth than 40% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Revenue Growth

12th percentile

-23%

Faster revenue growth than 12% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets30th percentile

Assets

Down

$9,671,849

Down $64,663 (-0.7%) from 2017

Net Assets

Down

$9,270,424

Down $370,683 (-3.8%) from 2017

Liabilities

Up

$401,425

Up $306,020 (+321%) from 2017

Revenue And Expenses
Liabilities / Revenue47th percentileNet Margin65th percentile

Revenue

Down

$2,762,588

Down $825,842 (-23%) from 2017

Expenses

Down

$2,513,250

Down $205,226 (-7.5%) from 2017

Net Income

Down

$249,338

Down $620,616 (-71%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth40th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$30M$20M$10M$0Assets 2012: $6,787,787Liabilities 2012: $16,609Net Assets 2012: $6,771,1782012Assets 2013: $7,856,750Liabilities 2013: $10,044Net Assets 2013: $7,846,7062013Assets 2014: $7,674,649Liabilities 2014: $645,424Net Assets 2014: $7,029,2252014Assets 2015: $8,127,772Liabilities 2015: $319,783Net Assets 2015: $7,807,9892015Assets 2016: $9,002,404Liabilities 2016: $220,122Net Assets 2016: $8,782,2822016Assets 2017: $9,736,512Liabilities 2017: $95,405Net Assets 2017: $9,641,1072017Assets 2018: $9,671,849Liabilities 2018: $401,425Net Assets 2018: $9,270,4242018Assets 2019: $12,290,580Liabilities 2019: $734,190Net Assets 2019: $11,556,3902019Assets 2020: $14,186,661Liabilities 2020: $41,644Net Assets 2020: $14,145,0172020Assets 2021: $17,433,357Liabilities 2021: $235,033Net Assets 2021: $17,198,3242021Assets 2022: $16,297,661Liabilities 2022: $143,008Net Assets 2022: $16,154,6532022Assets 2023: $18,886,257Liabilities 2023: $234,920Net Assets 2023: $18,651,3372023Assets 2024: $22,712,380Liabilities 2024: $464,530Net Assets 2024: $22,247,8502024

Highlighted filing

2018

Assets$9,671,849
Liabilities$401,425
Net Assets$9,270,424
Open 2018 Filing

Operations Trend

Revenue Growth12th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$10M$5.0M$0-$5.0MExpenses 2012: $2,658,1342012Revenue 2013: $2,707,759Expenses 2013: $1,610,503Net Income 2013: $1,097,2562013Revenue 2014: $2,148,156Expenses 2014: $2,864,478Net Income 2014: -$716,3222014Revenue 2015: $3,159,046Expenses 2015: $1,907,441Net Income 2015: $1,251,6052015Revenue 2016: $3,910,595Expenses 2016: $2,748,121Net Income 2016: $1,162,4742016Revenue 2017: $3,588,430Expenses 2017: $2,718,476Net Income 2017: $869,9542017Revenue 2018: $2,762,588Expenses 2018: $2,513,250Net Income 2018: $249,3382018Revenue 2019: $3,371,876Expenses 2019: $2,336,969Net Income 2019: $1,034,9072019Revenue 2020: $3,118,639Expenses 2020: $1,534,545Net Income 2020: $1,584,0942020Revenue 2021: $4,801,575Expenses 2021: $2,401,660Net Income 2021: $2,399,9152021Revenue 2022: $5,272,218Expenses 2022: $3,452,026Net Income 2022: $1,820,1922022Revenue 2023: $4,951,333Expenses 2023: $3,790,847Net Income 2023: $1,160,4862023Revenue 2024: $8,339,017Expenses 2024: $4,358,619Net Income 2024: $3,980,3982024

Highlighted filing

2018

Revenue$2,762,588
Expenses$2,513,250
Net Income$249,338
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 14, 2019
Return Version
2018v3.1
Gross Receipts
$4,137,853
Mission and Program Overview

Mission

To foster and promote the growth of south carolina state university by receiving, investing, and expending funds for the exclusive benefit of the university.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$7,608,812$7,172,503▼ $436,309
Cash and Non-Interest-Bearing Accounts$551,803$1,033,929▲ $482,126
Pledges and Grants Receivable$938,868$853,029▼ $85,839
Land, Buildings, and Equipment, Net$97,620$72,979▼ $24,641
Total Assets$9,736,512$9,671,849▼ $64,663
Other Assets Total$539,409$539,409→ $0
Liabilities
Accounts Payable and Accrued Expenses$95,405$401,425▲ $306,020
Total Liabilities$95,405$401,425▲ $306,020
Net Assets / Fund Balance
Permanently Rstr Net Assets$5,001,185$5,288,341▲ $287,156
Temporarily Rstr Net Assets$5,193,149$4,625,789▼ $567,360
Unrestricted Net Assets$-553,227$-643,706▼ $90,479
Total Net Assets Fund Balance$9,641,107$9,270,424▼ $370,683
Total Liabilities and Net Assets / Fund Balance$9,736,512$9,671,849▼ $64,663

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$49,279$73,921$123,200
Land$23,700--
Other Assets Org$539,409--
Other Securities$2,781,491--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$6,523,189$425,116▼ $583,551$721,694$5,618,915
2017$5,582,071$354,004▲ $842,183$175,638$6,523,189
2016$4,673,949$876,186▲ $166,468$40,690$5,582,071
2015$4,908,047$141,849▼ $45,731$295,300$4,673,949
2014$4,794,336$284,373▲ $83,214$218,334$4,908,047
Compensation and Service Providers
Top Officer Pay20th percentile

Board Members and Trustees

NameTitle
Stephen V BeattyChairman
Edwena L CroweVice Chair
Jason K BarberDirector
Kenneth G ClaxtonDirector
Michelle Y MoselyDirector
Stacy R StewartDirector
Edward D WilliamsEx-officio D
George K QuickEx-officio D
James E ClarkEx-officio D
John J FunnyEx-officio D
Milton IrvinEx-officio D
Ethell Vereen JrSecretary
Vernell T BrownTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,558,193
Program Service Revenue
$0
Investment Income
$221,298
Other Revenue
$-16,903
All Other Contributions
$2,415,151
Change in Net Assets
$249,338

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,762,588
Revenue Not Reported on Form 990
$-477,862
Total Revenue per Audited Statements
$2,284,726
Total Revenue per Form 990
$2,762,588
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,264,130
Grants and Similar Amounts Paid$828,864
Salaries, Compensation, and Employee Benefits$420,256
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$828,864--$828,864
Other Salaries and Wages$340,571$79,685-$420,256
Advertising$376,902$17,898-$394,800
Travel$149,196$19,618-$168,814
Office Expenses$113,779$26,864-$140,643
Fees for Services Management$131,880--$131,880
Fees for Services Other-$115,545-$115,545
Fees for Service Investment Mgmnt Fees$35,430--$35,430
All Other Expenses$26,298$8,738-$35,036
Depreciation Depletion-$24,641-$24,641
Other Expenses$16,349$2,206-$18,555
Insurance$1,258$10,283-$11,541
Fees for Services Accounting-$10,091-$10,091
Occupancy-$2,405-$2,405
Conferences and Meetings$596$1,400-$1,996
Total Functional Expenses$2,193,858$319,392$0$2,513,250

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,655,409
Expenses per Audited Statements$2,513,250
Total Expenses per Form 990$2,513,250
Expenses Not Reported on Form 990$142,159
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$52,432
Fundraising Gross Income$12,785
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
2018 Gala$155,827$12,785$7,302$5,483
Total Events$155,827$12,785$52,432$-39,647
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“A copy of the form 990 reviewed by the board at the board meeting prior to filing.”

Form 990, Page 6, Part VI, Line 12C

“The foundation has a conflict of interest policy that is monitored by the membership committee. In situations where a potential conflict may exist during the year, the board member recuses himself/herself from the discussions and vote.”

Form 990, Page 6, Part VI, Line 15A

“The foundation adheres to the university's policies and guidelines which are established by the state of south carolina.”

Form 990, Page 6, Part VI, Line 19

“The foundation retains the governing documents, policies, financial statements, and the form 990 at the foundation's office. The documents are available and provided to the public upon request.”

Filing and Contact Details

Filer

Filer Name
South Carolina State University
EIN
23-7113930
Phone
8035164722
Address
PO BOX 7187, ORANGEBURG, SC 29117-0001

Signing Officer

Name
Stephen V Beatty
Title
Chairman
Phone
8035164722
Signed
2019-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stephen V Beatty
Formed
1971
Legal Domicile
Sc
Voting Board Members
13
Independent Board Members
13
Employees
5
Volunteers
13

Preparer

Firm
Brodie Summers & Wilkes Cpas Llp
Address
PO BOX 584, ORANGEBURG, SC 29116-0584
Preparer
Dwight C Summers Jr
Phone
8035366866
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Interfund management fees 89,727 fundraising expense offset in revenues 52,432 fundraising expense offset in revenues -52,432 interfund management fees -89,727”

Form 990, Page 12, Part XII, Line 2C

“No change in selection or oversight process”

Financial Statement Notes

Schedule D, Page 3, Part X

“The foundation is exempt from federal and state income taxes as an organization described in section 501(c)(3) of the internal revenue code. The foundation has also been classified as an entity that is not a private foundation within the meaning of section 509(a) of the internal revenue code. The foundation is not aware of any material uncertain tax positions at december 31, 2018. Interest and penalties associated with unrecognized tax benefits are classified as additional income taxes. The foundation did not recognize any interest or penalties during 2018.”

Schedule D, Page 4, Part XI, Line 2D

“Interfund management fees 89,727 fundraising expense offset in revenues 52,432”

Schedule D, Page 4, Part XII, Line 2D

“Fundraising expense offset in revenues 52,432 interfund management fees 89,727”

Raw XML AppendixShowing 400 of 543 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0340571
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IRS990/RentalIncomeOrLossGrp/PersonalAmt022313
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IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0false
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IRS990ScheduleA/TotalSupportAmt013974570
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/CollectionUsedPubExhibitionInd0X
IRS990ScheduleD/CollUsedScholarlyRsrchInd0X
IRS990ScheduleD/CYEndwmtFundGrp/AdministrativeExpensesAmt011638
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt06523189
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt0425116
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt05618915
IRS990ScheduleD/CYEndwmtFundGrp/GrantsOrScholarshipsAmt012507
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-583551
IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt0721694
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/AdministrativeExpensesAmt066181
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IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/GrantsOrScholarshipsAmt013250
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0842183
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt0175638
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IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/OtherExpendituresAmt0218334
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt073921
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IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt12781491
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IRS990ScheduleD/OtherSecuritiesGrp/Desc1BOND FUNDS
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IRS990ScheduleD/SolicitedAssetsSaleInd0false

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$9,671,849
Liabilities
$401,425
Net assets
$9,270,424
Revenue
$2,762,588
Expenses
$2,513,250
Net income
$249,338
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$22.7$0.46$22.2$8.34$4.36$3.98
2023Detailed filing. Detailed filing data is available for this year.$18.9$0.23$18.7$4.95$3.79$1.16
2022Detailed filing. Detailed filing data is available for this year.$16.3$0.14$16.2$5.27$3.45$1.82
2021Detailed filing. Detailed filing data is available for this year.$17.4$0.24$17.2$4.80$2.40$2.40
2020Detailed filing. Detailed filing data is available for this year.$14.2$0.04$14.1$3.12$1.53$1.58
2019Detailed filing. Detailed filing data is available for this year.$12.3$0.73$11.6$3.37$2.34$1.03
2018Detailed filing. Detailed filing data is available for this year.$9.67$0.40$9.27$2.76$2.51$0.25
2017Detailed filing. Detailed filing data is available for this year.$9.74$0.10$9.64$3.59$2.72$0.87
2016Detailed filing. Detailed filing data is available for this year.$9.00$0.22$8.78$3.91$2.75$1.16
2015Detailed filing. Detailed filing data is available for this year.$8.13$0.32$7.81$3.16$1.91$1.25
2014Detailed filing. Detailed filing data is available for this year.$7.67$0.65$7.03$2.15$2.86$0.72
2013Detailed filing. Detailed filing data is available for this year.$7.86$0.01$7.85$2.71$1.61$1.10
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.79$0.02$6.77$2.66